Key Highlights of Insolvency & Bankruptcy Code, 2016


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Increase in Stamp Duty on Share Certificates and Other Instruments by State of Haryana

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The Haryana State Government in order to curb the malpractices adopted by some of the Corporate holding their Board Meetings in Gurgaon or some other places in Haryana and executing the share certificates (i.e. instruments) over there, thereby evading the stamp duty on share certificates, and also finding the stamp duty on a lower side, has amended the Article 19 of Schedule 1A (as applicable to Haryana) of the Indian Stamp Act, 1899 (“Act”) vide notification dated 1st October 2013 in exercise of the power under Article 246 (3) read with Entry 63 of List II of Seventh Schedule of Constitution of India, and increased the stamp duty levied on the share certificates evidencing the right or title of the holder thereof, or any other person, to the shares in such certificates, equivalent to the stamp duty levied on such share certificates in the National Capital Territory of Delhi. Mr. Abhishek Bansal Sr. Associate +919873191956 abhishek@indiacp.com Further a new clause (d) t...
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Leaves & Holidays under Indian Labour & Employment Laws

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Holidays and Leaves of workers in India are governed principally by the Factory Act, 1948 and state shops and establishment acts. Weekend Holidays Mr. Pankaj Singla Sr. Associate +919971508320 pankaj@indiacp.com In India, the law prescribes maximum number of hours a week a worker may not be employed beyond. An adult worker shall not be employed for more than 48 (forty eight) hours in a week and not more than 9 (nine) hours in a day. Weekly holiday is compulsory as per the Factories Act. First day of the week i.e. Sunday shall be a weekly holiday. The employer has to make sure that no worker works more than 10 days without a rest day of 24 hours. Therefore, if the worker is asked to work on weekly
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Work Hours and Overtime under the Factory Act, 1948 and Shops & Establishment Act

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India has two major laws concerning working hours of workers i.e. the Factory Act, 1948 and Shops & Establishment Act. The regulations related to the working hours can be separated into four broad categories that help demarcate the dimensions of the discussion. Working Hours for Factory Workers; I. Employment of Adults: Mr. Pankaj Singla Sr. Associate +919971508320 pankaj@indiacp.com An adult worker shall not be employed for more than 48 (forty eight) hours in a week and not more than 9 (nine) hours in a day. A compulsory rest of at least half an hour (30 minutes) between each period of work  and such period of work shall not exceed five hours. Total period of work inclusive of rest interval cannot be more than 10.5 hours. The Chief Inspector may by giving a reason in writing  increase the workday time up to twelve hours. According to Minimum Wages Act, 1948 the working day of a worker shall be so arranged that inclusive of the interval of rest it shall n...
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